First American Reports Record Quarter Profit
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A continuation of “relatively low interest rates” helped First American Financial Corp. post record third quarter net income of $5.4 million, up 74.2% from $3.1 million a year ago.
The Santa Ana-based parent of First American Title Insurance Co. said revenue for the period was a record $71.3 million, up 18.3% from $60.2 million.
For the nine months, the company reported net income of $10.1 million, down 14.4% from the $11.8 million registered during the same period last year. Nine-month revenue was $190.8 million, up 8% from $176.6 million.
First American said it expects the relatively low interest rates and stable real estate market to continue into early 1986.
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